Allstate Corporation (The) (NYSE:ALL) – Equities research analysts at Langen Mcalenn upped their Q3 2017 earnings estimates for Allstate Corporation (The) in a report released on Thursday. Langen Mcalenn analyst R. Glasspiegel now expects that the insurance provider will post earnings per share of $1.13 for the quarter, up from their previous estimate of $1.11. Langen Mcalenn also issued estimates for Allstate Corporation (The)’s FY2017 earnings at $6.10 EPS and Q2 2018 earnings at $1.22 EPS.

Allstate Corporation (The) (NYSE:ALL) last released its quarterly earnings data on Tuesday, August 1st. The insurance provider reported $1.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.48. Allstate Corporation (The) had a return on equity of 12.73% and a net margin of 7.02%. The company had revenue of $8.02 billion during the quarter, compared to analysts’ expectations of $7.99 billion. During the same period last year, the firm posted $0.62 earnings per share. The business’s revenue was up 2.6% on a year-over-year basis.

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Other equities analysts have also issued reports about the company. Wells Fargo & Company reaffirmed a “buy” rating on shares of Allstate Corporation (The) in a report on Wednesday, May 3rd. Barclays PLC reduced their target price on Allstate Corporation (The) from $101.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, July 3rd. BidaskClub lowered Allstate Corporation (The) from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 12th. UBS AG reaffirmed a “neutral” rating and issued a $94.00 target price (up from $86.00) on shares of Allstate Corporation (The) in a report on Thursday. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $88.00 target price on shares of Allstate Corporation (The) in a report on Friday, June 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $89.38.

Shares of Allstate Corporation (NYSE:ALL) opened at 94.22 on Monday. Allstate Corporation has a 52-week low of $66.55 and a 52-week high of $94.49. The firm has a market capitalization of $34.05 billion, a PE ratio of 13.92 and a beta of 1.10. The stock has a 50 day moving average price of $89.06 and a 200-day moving average price of $83.42.

Large investors have recently bought and sold shares of the company. Norges Bank bought a new stake in Allstate Corporation (The) during the fourth quarter valued at about $19,212,000. Highbridge Capital Management LLC bought a new stake in Allstate Corporation (The) during the fourth quarter valued at about $405,000. Chevy Chase Trust Holdings Inc. increased its stake in Allstate Corporation (The) by 2.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 319,038 shares of the insurance provider’s stock valued at $25,998,000 after buying an additional 6,719 shares in the last quarter. Creative Planning increased its stake in Allstate Corporation (The) by 9.2% in the first quarter. Creative Planning now owns 29,037 shares of the insurance provider’s stock valued at $2,366,000 after buying an additional 2,444 shares in the last quarter. Finally, Gulf International Bank UK Ltd increased its stake in Allstate Corporation (The) by 1.1% in the first quarter. Gulf International Bank UK Ltd now owns 116,980 shares of the insurance provider’s stock valued at $9,532,000 after buying an additional 1,300 shares in the last quarter. Hedge funds and other institutional investors own 77.04% of the company’s stock.

In other Allstate Corporation (The) news, President Matthew E. Winter sold 48,058 shares of the stock in a transaction on Monday, July 17th. The stock was sold at an average price of $88.54, for a total transaction of $4,255,055.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Harriet K. Harty sold 7,228 shares of the stock in a transaction on Friday, June 30th. The stock was sold at an average price of $88.35, for a total value of $638,593.80. Following the sale, the insider now owns 18,260 shares in the company, valued at approximately $1,613,271. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 170,677 shares of company stock worth $14,975,887. Company insiders own 1.58% of the company’s stock.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Thursday, August 31st will be given a dividend of $0.37 per share. The ex-dividend date is Tuesday, August 29th. This represents a $1.48 annualized dividend and a dividend yield of 1.57%. Allstate Corporation (The)’s dividend payout ratio is currently 21.86%.

Allstate Corporation (The) announced that its board has initiated a stock repurchase program on Tuesday, August 1st that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the insurance provider to reacquire up to 63% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

About Allstate Corporation (The)

The Allstate Corporation (Allstate) is a holding company for Allstate Insurance Company. The Company’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries. It is engaged in the property-liability insurance business and the life insurance, retirement and investment products business.

Earnings History and Estimates for Allstate Corporation (The) (NYSE:ALL)

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